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☆ Chinese rival to Apple’s Vision Pro raises $70 million, doubles down on new strategy to win consumers
▼ + stars: | 2024-01-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese AR glasses and software company Rokid announced it raised $70 million in a funding round led by the government of Hefei city. BEIJING — Chinese augmented reality glasses and software company Rokid this week announced it raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city. Augmented reality (AR) technology allows digital images to be imposed over the real world. Apple' s Vision Pro virtual reality headset, set for release on Feb. 2, also allows users to see the real world using what the company calls "spatial computing" technology. Rokid sells AR glasses for consumers.

Persons: Rokid, Misa Zhu Organizations: CNBC Locations: Hefei, BEIJING, Hefei city, Shanghai, China

☆ TSMC and more: Goldman Sachs loves these Asian tech stocks, giving one 37% upside
▼ + stars: | 2024-01-12 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"While we expect a very modest cyclical recovery as a whole, we continue to look for opportunities among individual stocks," Goldman Sachs' analysts, led by Daiki Takayama, wrote in the note, naming buy-rated names — including four conviction list stocks — to play the theme. The bank's conviction list comprises its top buy-rated stock ideas that are expected to beat the market. SK Hynix South Korean chipmaker SK Hynix was among the stocks that made Goldman's list of buy-rated names that are also on its conviction list. Goldman gave the stock a price target of 3,300 Japanese Yen ($22.78) implying upside of around 37.7%. Meanwhile, the bank has a target price of 29 Chinese yuan ($4.07) on Foxconn, giving it around 124.6% potential upside.

Persons: Goldman Sachs, Daiki Takayama, Hynix, Goldman, it's bullish, Hai, CNBC's Michael Bloom Organizations: SK Hynix South, SK Hynix South Korean chipmaker SK Hynix, Korean, Taiwan Semiconductor Manufacturing Company, Electronics, Industrial, Renesas Electronics, Apple Locations: SK Hynix South Korean, Taiwan, Shanghai

☆ TSMC posts flat fourth-quarter revenue but beats expectations
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +1 min

Taiwan chipmaker TSMC reported a largely flat fourth-quarter revenue on Wednesday, but that still beat both the company's and market's expectations. Revenue in the final three months of last year came in at T$625.5 billion ($20.10 billion), according to Reuters calculations, compared with $19.93 billion in the year-ago period. That beat Taiwan Semiconductor Manufacturing Co's, or TSMC, previous prediction for fourth-quarter revenue being in a range of between $18.8-19.6 billion, and also beat an LSEG SmartEstimate of T$617.1 billion drawn from 21 analysts. For December alone, TSMC reported that revenue fell 8.4% year-on-year to T$176.3 billion, which was down 14.4% compared with the previous month. TSMC, Asia's most valuable publicly listed company with a market capitalization of $491 billion, did not provide any details or forward guidance in its brief revenue statement.

Persons: Taiwan chipmaker TSMC, SmartEstimates, TSMC Organizations: Apple, Nvidia, Revenue, Taiwan Semiconductor Manufacturing, TSMC's Locations: Taiwan, TSMC's Taipei

☆ Workers Can't Get Hired for America's Semiconductor Jobs of the Future
▼ + stars: | 2024-01-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +17 min

But since completing Quick Start, Gardner has come to a worrying realization: There aren't enough semiconductor jobs to go around. The precedent is little solace for the many graduates of the Quick Start program who are stuck in limbo. In addition to no longer promising interviews with semiconductor companies, Quick Start has taken other steps to moderate candidates' expectations. Hurdles aboundBeyond short-term economics, Palmer believes there are two reasons semiconductor companies have been slow to hire, she said. In the years ahead, the artificial-intelligence boom could further boost the demand for chips and create more jobs in the semiconductor industry.

Persons: Collin Gardner, Gardner, Taco Bell, Taiwan's, Joe Biden, I'm, Lisa Strothers, Jacob Zinkula, Quick, Leah Palmer, who've, Palmer, Gary Burley, who's, they're, we're, It's, —, Gabriela Cruz Thompson, Biden, Gina Raimondo, he'd, hadn't, he's Organizations: Taco Bell, Business, Taco, Semiconductors, Semiconductor, Semiconductor Industry Association, Oxford Economics, Intel, Arizona Advanced Manufacturing, Mesa Community, Mesa Community College, Quick, Samsung, Bloomberg Locations: Arizona's Maricopa County, Arizona, chipmaking, China, Maricopa County, Ohio

☆ Tech stocks dominated 2023 investing. Here's where the sector finds growth in 2024
▼ + stars: | 2023-12-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +11 min

After 2023's blowout run, it's hard to recall the once gloomy investing setup for technology stocks last December. As the calendar year turns, don't expect technology stocks to match 2023's blowout gains, but the year's performance is no fluke. AI stocks may dominate tech-focused investing, but don't sleep on the other emerging themes. GOOGL YTD mountain Alphabet shares in 2023 Both companies have rolled out new initiatives in the months since. Arm Holdings made headlines this year as one of the first major companies to go public , reviving the IPO market after a roughly two-year drought.

Persons: behemoths, Jay Woods, Mark Zuckerberg, didn't, chipmakers, David Waddell, Everybody's, Copilot, Paul Meeks, Gene Munster, Alphabet's, Meeks, Morgan Stanley, Andrew Slimmon, They're, Slimmon, CNBC's, Wall, Nvidia's, He's, Mahoney, Ken Mahoney, it's, Brent Fredberg, Munster's, Management's Albert Tsuei, Tsuei, William Blair's Jonathan Vo, Keith Weiss Organizations: Federal Reserve, Treasury, Freedom, Microsoft, Waddell & Associates, Oracle, Arista Networks, Morgan, Morgan Stanley Investment, Meta, Nvidia, Devices, Dell, Hewlett Packard Enterprises, Broadcom, Holdings, Micron Technology, Brandes Investment Partners, Micron, Samsung, Taiwan Semiconductor Manufacturing, MGM Resorts, Johnson, Okta, UBS, Management's, Palo Alto Networks, Palo Alto Locations: British, Clorox

☆ Intel, Siemens to collaborate on improving manufacturing, energy efficiency
▼ + stars: | 2023-12-04 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsDec 4 (Reuters) - Intel (INTC.O) and Siemens (SIEGn.DE) on Monday announced a three-year deal to collaborate on improving factory efficiency and automation with a special focus on improving energy efficiency and sustainability. The partnership with Siemens will help Intel operate the factory more efficiently, Esfarjani said. EUV, an energy-hungry technology, is so central to advanced chipmaking that significant parts of the manufacturing process revolve around it. The partnership with Intel will help Siemens deepen its understanding of this type of manufacturing where one technology is so core to the process and help it transfer that know-how to other industries. In that case, Siemens assisted with its transition to manufacturing electric vehicles from combustion engines.

Persons: Dado Ruvic, Keyvan Esfarjani, Esfarjani, EUV, Cedrik Neike, Max A, Edwina Gibbs Organizations: REUTERS, Intel, Siemens, Monday, Reuters, Taiwan Semiconductor Manufacturing, Mercedes, Benz, Thomson Locations: San Francisco

☆ Inside Apple’s chip lab, home to the most ‘profound change’ at the company in decades
▼ + stars: | 2023-12-01 | by ( Katie Tarasov | ) www.cnbc.com time to read: +13 min

Its most advanced silicon is primarily manufactured by one vendor, Taiwan Semiconductor Manufacturing Company. "We built what we call the unified memory architecture that is scalable across products," Srouji said. Apple's silicon team has grown to thousands of engineers working across labs all over the world, including in Israel, Germany, Austria, the U.K. and Japan. The primary type of chip Apple is developing is known as a system on a chip, or SoC. Apple's senior director of hardware validation Godfrey D'Souza shows off an M3 SoC in an Apple chip lab in Cupertino, California, on November 14, 2023.

Persons: John Ternus, Srouji, we're, Katie Tarasov, Andrew Evers, Ben Bajarin, Bajarin, Apple, Apple there's, Pro Max, Kaiann Drance, That's, who's, Ternus, Nvidia —, Tesla, Stacy Rasgon, Apple's, Godfrey D'Souza, Sydney, they've, Rasgon, Apple's Srouji, It's Organizations: AMD, MU, Apple Watch, U.S, Apple, Intel, Taiwan Semiconductor Manufacturing Company, Microsoft, CNBC, Apple's, Amazon, Google, Tesla, Semiconductor, Creative, Pro, Triple, MacBook Air, Qualcomm, Nvidia, Bernstein Research, Sydney Boyo, Bluetooth, Broadcom, Samsung, Micron, Thursday Apple Locations: Cupertino , California, Israel, Germany, Austria, Japan, Silicon Valley, San Diego, Austin , Texas, AirPods, Taiwan, China, Arizona, Peoria , Arizona, Asia, Europe, U.S

☆ Amkor to build $2 billion Arizona semiconductor packaging plant
▼ + stars: | 2023-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Nov 30 (Reuters) - Amkor Technology (AMKR.O) said Thursday it will spend $2 billion to build a new advanced semiconductor packaging and test facility in Arizona that will package and test chips for Apple (AAPL.O) produced at a nearby Taiwanese chipmaker TSMC (2330.TW) facility. Amkor said the facility will be the largest U.S. outsourced advanced packaging facility. Earlier this month, the Commerce Department disclosed details of its plans to spend $3 billion for advanced packaging. Advanced packaging is a high-tech method of placing multiple chips with a variety of functions in a densely interconnected “package." Commerce Secretary Gina Raimondo has made advanced packaging a priority and said earlier this year "the U.S. will develop multiple high-volume advanced packaging facilities, and become a global leader in packaging technologies."

Persons: TSMC, Amkor, Apple, Gina Raimondo, Mark Kelly, David Shepardson Organizations: Amkor, Apple, U.S, Commerce Department, Commerce, Thomson Locations: Arizona, U.S

☆ Here's why the U.S. stock market and economy don't need or even miss China
▼ + stars: | 2023-11-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +16 min

Yet, the Fed chief was roundly criticized for avoiding tightening because the economy wouldn't slow down; nor would inflation. The country adopted a strict Covid policy that prevailed through 2022 causing its GDP to fall to 3% way below the Chinese government's 5.5% target. Meanwhile, Chinese President Xi Jinping acted as if nothing had weakened and only strengthened his hold on lifetime power. The S&P 500 advanced 14% over the next two years, but China's market sank nearly 1.5% during the same period. Meanwhile, Chinese President Xi Jinping acted as if nothing had weakened and only strengthened his hold on lifetime power.

Persons: Jerome Powell, couldn't, Powell, Donald Trump, Joe Biden, Nancy Pelosi, Pelosi, Biden, Xi Jinping, Xi, It's, China hasn't, Trump, Jim Cramer's, Jim Cramer, Jim, Tasos Katopodis, Brendan Smialowski Organizations: Federal Reserve, Fed, Initiative, Taiwan Semiconductor Manufacturing Company, Nike, Apple, Starbucks, Trump, Nvidia, United Auto Workers, UAW, Pfizer, CNBC, Federal, Financial, Treasury Department, Capitol, Reuters, Economic Cooperation, Afp, Getty Locations: U.S, China, United States, Taiwan, San Francisco, Mexico, Washington , U.S, Asia

☆ The manager of the top-performing small-cap fund this year outlined his 4 criteria for finding strong investments — and revealed his 3 favorite hidden gem stock picks right now
▼ + stars: | 2023-11-21 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

With a name like the Needham Aggressive Growth Fund, you'd be forgiven for assuming portfolio manager John Barr hunts for growth at any cost. So yes, it's growth investing informed by value investing." The Needham Aggressive Growth Fund has returned over 25% year-to-date according to Morningstar, making it the best-performing small-cap fund on the market. Barr, a one-time software salesman turned investing pro, told Business Insider what he looks for in his investments, the market themes he's watching, and his favorite stock picks right now. But it's Barr's primary investment criteria that sets him apart from other growth-focused fund managers: finding "hidden-to-quality compounders."

Persons: you'd, John Barr, Barr, that's, Charlie Munger, Warren Buffett, Morningstar, I've, there's, —, they've Organizations: Berkshire Hathaway, Business, Fund, Micro, Google, Vishay, Vishay Group, Parsons Corporation, Missile Defense Agency, Department of Defense

Chang said the Biden-Xi meeting was a “good” one, pointing to their agreement to resume high-level military communications. “It should help reduce the tensions between the U.S. and China, and it should increase stability of Taiwan Strait,” Chang said. Washington has a security pact with Taiwan to deter any armed attack from Beijing and has stepped up its support for the island. Xi sought assurances from Biden that the U.S. would not support Taiwan's independence and requested that Washington support China’s peaceful reunification with Taiwan. Sun Yun, director of the China program at the Washington-based Stimson Center think tank, said Washington won’t accept Beijing’s new demand to support peaceful reunification.

Persons: Joe Biden, China's Xi, Morris Chang, ” Chang, Chang, Biden, Xi, Nancy Pelosi, ” Biden, Sun Yun, Washington won’t, Sun, Tsai Ing, Tsai, Kamala Harris, Antony Blinken, Lael Brainard, Fumio Kishida Organizations: FRANCISCO, Taiwan Semiconductor Manufacturing Company, Asia Pacific Economic Cooperation, U.S, Washington, Stimson, APEC, Japanese Locations: Taiwan, Asia, Pacific, San Francisco, China, Taiwan Strait, Beijing, Washington, The U.S, U.S, “ China

☆ Tencent says it stockpiled Nvidia AI chips but seeks Chinese replacements
▼ + stars: | 2023-11-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Tencent rushed to build up “one of the largest inventories of AI chips in China” before US export restrictions took hold, an executive said Wednesday. It is one of the chipmaker’s advanced AI chips designed for use in data centers, the physical facilities used to store troves of electronic information. In late October, Nvidia disclosed that the just-announced restrictions had come into effect “immediately,” weeks earlier than scheduled. “Going forward, we will have to figure out ways to make … the usage of our AI chips more efficient,” namely by working to retain most of the company’s high-performance chips for training the model, he added. The bot was developed specifically for corporate users, allowing them to catch up on meetings by viewing automated summaries or put together documents more efficiently, Lau told analysts.

Persons: Hong Kong CNN — Tencent, Martin Lau, ”, ” Lau, Tencent, “, Biden, Kai, Fu Lee, Lau Organizations: Hong Kong CNN, Nvidia, Bloomberg, Sinovation Ventures, Huawei, Center for Strategic, International Studies, Semiconductor Manufacturing International Corporation Locations: China, Hong Kong, China ”, United States, Beijing, Washington, Shenzhen

☆ Exclusive: Applied Materials under US criminal probe for shipments to China's SMIC-sources
▼ + stars: | 2023-11-16 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. Shares in Applied Materials fell 7.3% after the news and the company reported quarterly results. Reuters could not determine whether Applied Materials violated the law, and it isn't clear whether the investigation will result in charges. SMIC did not immediately respond to a request for comment on the shipments from Applied Materials. A spokesperson for China's embassy in Washington was not aware of the Applied Materials probe.

Persons: Dado Ruvic, SMIC, Liu Pengyu, Karen Freifeld, Anna Driver Organizations: REUTERS, Semiconductor, Applied, Justice Department, Reuters, Materials, Justice and Commerce, Attorney's, Prosecutors, National Security Unit, China's Semiconductor Manufacturing International Corporation, U.S . Commerce Department, Commerce Department, Federal Register, Lam Research Corp, U.S . Securities, Exchange Commission, Thomson Locations: U.S, South Korea, China, Santa Clara , California, Massachusetts, Boston, Gloucester, Washington

☆ China's Moore Threads valued at $3.4 bln in funding before U.S. curbs - sources
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The month before Moore Threads had raised roughly 1 billion yuan in a so-called "series B+" round, one of the sources said. Investors priced Moore at 24 billion yuan prior to the capital raise, and around 24.8 billion yuan after the injection of new capital, said the other source, who had been briefed about the fundraising progress in September. On Tuesday, updates to Moore Threads' company registration data on third-party database Qichacha showed it added new shareholders including a fund called Houxue Qingxin and venture investment firm Chenan Zhizhi alongside an increase in its registered capital. It was widely considered one of China's most prominent efforts to develop products capable of competing with those from market-dominating Nvidia. ($1 = 7.2482 Chinese yuan renminbi)Reporting by Beijing Newsroom; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Moore, Chenan, ByteDance, Jan Harvey Organizations: REUTERS, Rights, U.S, Taiwan Semiconductor Manufacturing, Reuters, Nvidia, AMD, China Mobile, Sequoia Capital, Beijing, Thomson Locations: China, Rights BEIJING, U.S, Sequoia Capital China

For the seventh time, Taiwan will be represented by Morris Chang, the 92-year-old founder of the world-leading Taiwan Semiconductor Manufacturing Company. Chang is known as the godfather of the industry that has put Taiwan in the top ranks of high-tech manufacturing and personal electronic devices. Taiwan has participated in APEC since 1991 under the name Chinese Taipei. It began taking part just two years after the group's inception and the same year that China and the semi-autonomous Chinese city of Hong Kong joined. These acts of political intimidation have the potential to wear down the operational resiliency of the island's military equipment and personnel.

Persons: Morris Chang, Chang, —, Finance Chuang Tsui, yun, Janet Yellen, BIDEN, Xi Jinping, John Kirby, Joe Biden, Hong Kong, William Lai, Terry Gou Organizations: —, Economic Cooperation, Taiwan Semiconductor Manufacturing, APEC, Finance, U.S, Treasury, BE, Liberation Army, Democratic Progressive Party . U.S . National Security, Nationalist Party, Kuomintang, KMT Locations: TAIPEI, Taiwan, — Taiwan, Asia, San Francisco, China, Taipei, Hong Kong, Beijing, TAIWAN, U.S, Japan, South Korea, Philippines, Pacific, Hong, British, Taiwanese

☆ Samsung Elec sold more ASML shares in Q3 -company filing
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Nov 15 (Reuters) - South Korea's Samsung Electronics (005930.KS) cut its stake in semiconductor manufacturing equipment maker ASML (ASML.AS) further in the third quarter, the company's latest financial statement showed. Samsung Electronics more than halved its stake in ASML earlier this year. The stake Samsung sold is worth around 726.7 million euros ($789.92 million) based on the latest share prices. That brought Samsung Electronics' holding in the Dutch chip equipment maker down to 0.4%, or 1.58 million shares, according to the report. Samsung Electronics did not have an immediate comment.

Persons: Ed Davies Organizations: Samsung Electronics, Samsung, Thomson Locations: SEOUL, ASML

☆ 3 things to know about the most important relationship in the global economy
▼ + stars: | 2023-11-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Even so, finding ways to “get back on a normal course” — in the words of Biden — matters hugely to the global economy. He also pointed to some American companies leaving China altogether, such as asset management giant Vanguard. In the third quarter, a measure of foreign direct investment into China turned negative for the first time in 25 years. The country is by far the world’s biggest gallium producer, and a leading global producer of germanium, according to the US Geological Survey. Listed American companies with big business in China, such as Apple (AAPL) and Tesla (TSLA), may face higher scrutiny, too.

Persons: Joe Biden, Xi Jinping, “, Biden, ”, Scott Kennedy, Chenggang Xu, California Justin Sullivan, Xu, Gina Raimondo, Adam Glanzman, Zongyuan Zoe Liu, Donald Trump, Liu, … Organizations: Hong Kong CNN —, Economic Cooperation, CNN, Center for Strategic, International Studies, Stanford Center, China’s, Shipping, Port, Association of Southeast Asian Nations, European Union, American Chamber of Commerce, Vanguard, Companies, US, Nvidia, Semiconductor Industry Association, Bloomberg, Getty, Geological Survey, Council, Foreign Relations, Communist Party of China Finances, Capital, Apple, Chinese Communist Party, China Economic, Security, Commission, Biden, CFR Locations: China, Hong Kong, San Francisco, Asia, United States, Mexico, Canada, Port of Oakland, California, Shanghai, Ukraine, Moscow, Washington, Beijing, American, New York, US, Japan, Netherlands, Sequoia

☆ Microsoft introduces its own chips for AI, with eye on cost
▼ + stars: | 2023-11-15 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Microsoft said it does not plan to sell the chips but instead will use them to power its own subscription software offerings and as part of its Azure cloud computing service. Microsoft and other tech giants such as Alphabet are grappling with the high cost of delivering AI services, which can be 10 times greater than for traditional services such as search engines. The Maia chip, they said, is optimized for that work. Microsoft also said that next year it will offer its Azure customers cloud services that run on the newest flagship chips from Nvidia (NVDA.O) and Advanced Micro Devices. He said the Maia chip would allow Microsoft to sell AI services in the cloud until personal computers and phones are powerful enough to handle them.

Persons: Maia, OpenAI, Scott Guthrie, Ben Bajarin, Bajarin, Microsoft's Guthrie, Guthrie, Rani Borkar, Borkar, Stephen Nellis, Edmund Klamann Organizations: Reuters, Microsoft, REUTERS Acquire, Wednesday, Ignite, Nvidia, Devices, Amazon Web Services, Arm Holdings, Amazon, Taiwan Semiconductor Manufacturing, Thomson Locations: Redmond , Washington, Seattle, San Francisco

☆ China receives US equipment to make advanced chips despite new rules-report
▼ + stars: | 2023-11-14 | by ( Alexandra Alper | ) www.reuters.com time to read: +3 min

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a congressional report said on Tuesday. China watchers had theorized that SMIC could have made the chip with equipment obtained prior to the October 2022 rules, but it had other options for obtaining the equipment from oversees, the report shows. The United States managed to plug a key loophole in its efforts to stymie China's access to advanced chipmaking tools by convincing allies Japan and the Netherlands, with similarly robust chipmaking equipment industries, to announce their own restrictions on exports of the coveted technology. China's imports of semiconductor equipment from all countries totaled $13.8 billion (RMB 100 billion) over the first eight months of 2023, it added.

Persons: Florence Lo, United States scrambles, SMIC, Alexandra Alper, Chizu Organizations: REUTERS, Rights, U.S, Biden, Commerce Department, Huawei, SMIC, United, Office, Thomson Locations: China, U.S, United States, Netherlands, Japan

WASHINGTON (AP) — The United States is hosting the annual APEC summit of world leaders this week for the first time since 2011. But the main summit event will actually be on the sidelines: A face-to-face meeting between President Joe Biden and Chinese President Xi Jinping. The annual leaders' conference brings together heads of nations and other top economic and diplomatic leaders. That decision was regarded as a snub by some APEC leaders. Since then, the APEC leaders have posed together in batik shirts (Malaysia, 1998), Chinese jackets (Shanghai, 2001), flowing ponchos (Chile, 2004) and "ao dai” tunics (Vietnam, 2006.)

Persons: Joe Biden, Xi Jinping, Vladimir Putin, Gina Raimondo, isn't, Biden, Donald Trump, Kamala Harris, that's, Morris Chang, Paul Chan, John Lee, It's, Bill Clinton, Barack Obama, Obama Organizations: WASHINGTON, APEC, Economic Cooperation, Biden, Pacific, Thai, Taiwan Semiconductor Manufacturing Co, Financial, Moody’s Investors Service Locations: United States, Asia, San Francisco, China, U.S, Israel, Ukraine, Russia, Japan, Australia, Taiwan, Hong Kong, Pacific, Bangkok, Chile, Thailand, China . Hong Kong, Seattle, American, Malaysia, Shanghai, ponchos, Vietnam, Philippines, Hawaii

☆ China's largest chipmaker SMIC posts a 80% drop in third-quarter profit
▼ + stars: | 2023-11-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)China's largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as global demand weakness hit foundries hard. Net income for the quarter plunged 80% compared to a year ago — larger than the 64% drop posted in second quarter 2019, according to company figures. Net income for that period was $93.98 million, far below analysts' expectations of $165.1 million. SMIC is China's biggest foundry, manufacturing semiconductor chips that other firms design.

Organizations: Semiconductor Manufacturing International Corporation, Getty, Semiconductor Manufacturing, Co, Samsung, TSMC Locations: BEIJING, CHINA, Beijing, China, South, U.S

☆ India, US begin talks to boost partnership amid 'global challenges'
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

"Defence remains one of the most important pillars of our bilateral relationship," Singh said in opening remarks at the meeting. "In spite of various emerging geopolitical challenges, we need to keep our focus on important and long-term issues." Austin said it was more important than ever that the world's two largest democracies exchange views, find common goals, and deliver for our people, "in the face of urgent global challenges". "Together we have been taking very concrete steps to deliver on the vision that our two leaders put forward," Blinken said. Jaishankar said the dialogue would help build "a forward-looking partnership while we construct a shared global agenda".

Persons: Antony Blinken, Lloyd Austin, Subrahmanyam Jaishankar, Rajnath Singh, Friday's, Singh, Austin, Narendra Modi's, Joe Biden's, Blinken, Jaishankar, Biden's, Xi Jinping, YP Rajesh, Raju Gopalakrishnan Organizations: India's, Defense, Ministry of Foreign Affairs, Swaraj Bhavan, Indian, Defence, Economic Cooperation, YP, Thomson Locations: DELHI, India, United States, Washington, Gaza, Ukraine, South Asia, New Delhi, Japan, Australia, China, Asia, San Francisco . India, Delhi, Russia

☆ China's SMIC sees lower Q4 gross margin, lifts annual capex forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song/File photo Acquire Licensing RightsNov 9 (Reuters) - Semiconductor Manufacturing International Corp (0981.HK) on Thursday lifted its annual capital expenditure forecast to around $7.5 billion and said it expects lower fourth-quarter gross margins. SMIC expects a gross margin of between 16% and 18% in the fourth quarter, compared with 19.8% in the third quarter. Revenue for the third quarter fell to $1.62 billion from $1.91 billion a year ago, but the company expects a sequential increase of 1% to 3% in the fourth quarter. SMIC had previously said it expects capital expenditure in 2023 to be roughly flat compared with 2022, which came in at about $6.35 billion.

Persons: Aly, TSMC, Germany's, SMIC, Nausheen, Devika Organizations: Semiconductor Manufacturing International Corporation, China International Semiconductor, REUTERS, Semiconductor Manufacturing International Corp, HK, SMIC, Revenue, Thomson Locations: Shanghai, China, Bengaluru

Last year, Taiwan's chip industry generated T$4.837 trillion ($150.27 billion) in revenue, nearly half of which came from TSMC, compared with Taiwan's GDP of T$22.667 trillion ($704.21 billion). "Taiwan's limited land and limited energy have always created a lot of pressure," GlobalWafers (6488.TWO) CEO Doris Hsu told reporters. 'FIVE SHORTAGES'The chip industry has long complained about Taiwan's "five shortages": land, water, energy, labour, and talent. Taiwan's government - determined to keep its crown jewel's most advanced technology at home - has said it will provide alternative options. The Longtan expansion had proposed acquiring 159 more hectares in the north, where TSMC and many chip companies are based.

Persons: Wei Hsin, Carlos Garcia Rawlins, Taiwan's, Wang Mei, TSMC, Doris Hsu, Hsu Shih, Rich, Chen Ting, Chen, Liao Chen, Cliff Hou, Isaiah, Lucy Chen, Chen Chi, Sarah Wu, Yimou Lee, Ben Blanchard, Gerry Doyle Organizations: REUTERS, Rights, Taiwan Semiconductor Manufacturing Co, Taiwan's, National Chengchi University, Hsinchu Science Park, Reuters, Residents, TMSC's, Thomson Locations: Longtan, Taoyuan, Taiwan, Rights HSINCHU, LONGTAN, Hsinchu, United States, Japan, Germany, TSMC, Belgium, Arizona, Kaohsiung

U.S. Secretary of State Antony Blinken speaks during a press conference after participating in G7 ministerial meetings in Tokyo, Japan, November 8, 2023. REUTERS/Jonathan Ernst/Pool Acquire Licensing RightsNEW DELHI/WASHINGTON, Nov 8 (Reuters) - U.S. Secretary of State Antony Blinken and Defense Secretary Lloyd Austin will hold talks with India this week that officials say will focus on security challenges in the Indo-Pacific and concerns over China, rather than the wars in Gaza and Ukraine. U.S. officials were moving swiftly to deepen ties with India while pledging support for an investigation into the June killing on Canadian soil, an American official aware of the Indo-Pacific policy said. Both officials spoke on condition of anonymity as they were not authorised to speak to the media. India's ties with the U.S. have grown steadily stronger on several fronts, and it has close strategic links with Israel.

Persons: Antony Blinken, Jonathan Ernst, Lloyd Austin, Subrahmanyam Jaishankar, Rajnath Singh, Narendra Modi's, Joe Biden's, Xi Jinping, Rick Rossow, Rossow, Krishn Kaushik, David Brunnstrom, Trevor Hunnicutt, YP Rajesh, Simon Cameron, Moore Organizations: REUTERS, Officials, Ottawa, Indian, Economic Cooperation, Asia Society, South, U.S, Washington’s Center, Strategic, International Studies, Biden, YP, Thomson Locations: Tokyo, Japan, DELHI, WASHINGTON, India, China, Gaza, Ukraine, New Delhi, Canada, Washington, Asia, San Francisco, South Asia, Israel, Delhi, Russia, Washington and New Delhi, Myanmar, Maldives, Sri Lanka, Nepal

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